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Marwaris

Traders and Industrialist

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Religion and caste

All four caste Brahmins

Kshatriyas or Rajputs- Risk taking

ability Vaisyas know as baniyas- Found now

all over the country

Shudras not much in trade

Now only two caste- Brahmins whoare also into hotel business and

Vaisyas

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Why trading

Arid Land

Tax laws

Other disincentive

Do religion has a role

First in western coast

Main trade as money lending

Also started doing broking

Great opportunity in Bengal

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Why growth in Bengal

3 Ts Tea, Timber and Trade

Kinship

Never came for employment

Can settle in any remote corner of thestate

Bengal had

Great land and agriculture No business community

Money lending by Marwaris

Philanthropic Outlook

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Stages of development

Money Lending

Trading

Industrialist

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As Trader

As traders good relation withBritishers

Also work as brokers from britishersin inland and foreign trade

Worked as speculators in the jutemarket

Birlas even have trade with Japanesecompanies

Worked as Banians for agency

houses

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Moving as Industrialist

During and after the first world war-Profit from trading business duringthis time

Jute trading to jute manufacturing

Birlas moved to cotton millspurchasing

Factories in Delhi andGwalior( support from Maharaja)

Also went into coal mines and tea

garden business

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Moving as Industrialist

Controlled the stock exchange ofCalcutta

With control on the sugar productionin Bengal, mills established in UPand Bihar

Paper Industry( 29% of market). Also

into cement industry

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Why

Money accumulated through tradeand speculation

Also had the benefit of businessexperience

In support of national movement

Less export so move towards Indianmarket

Industrial policy of govt to supporttheir military base

Or to avoid swadeshi movement

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Further development

Indian chambers of commerce in1925\

FICCI in 1927

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In 1940s

American capital more important

Formation of hindustan Motors

Also into engineering goods Hind Cycles

United commercial bank

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Rift with small enterprise

Bombay Plan

British leaving India , selling theirfirms to marwaris